MIRA INFORM REPORT

 

 

Report No. :

357525

Report Date :

30.12.2015

 

IDENTIFICATION DETAILS

 

Name :

I R TECHNOLOGY SERVICES PRIVATE LIMITED

 

 

Registered Office :

EL-91, TTC Industrial Area, Electronic Zone, MIDC, Mahape, Navi Mumbai – 400710, Maharashtra

Tel. No.:

91-22-67896600

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

20.07.1977

 

 

Com. Reg. No.:

11-019758

 

 

Capital Investment / Paid-up Capital :

Rs.20.000 Million

 

 

CIN No.:

[Company Identification No.]

U74220MH1977PTC019758

 

 

IEC No.:

0388083824

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMI05326G

 

 

PAN No.:

[Permanent Account No.]

AAACI1256K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Dealer and Importer of Laboratory Analytical and Medical Instruments. (Confirmed by management)

 

 

No. of Employees :

Approximately 169 [In Office: 67 + In Branch: 102]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1977. The company is a laboratory analytical instruments supplier. It has introduced instruments like Direct reading spectrometers, fully automatic carbon, Sulphur and gas analysers metal, used in research institutes and pharmaceutical companies.

 

For the financial year ended 2015, the company has registered healthy scale of operations marked by satisfactory to line growth along with profitability margin of 10.7%.

 

The company has ability to maintain favourable capital structure and effectively manage its working capital along with growth in cash accruals remain the key rating sensitivities for the company.

 

Rating continues to factor the long business track and extensive experienced of the promoters along with long standing relations with reputed partners and having established brand name.

 

Trade relations are fair. Business is active. Payments are usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. V Jaykumar

Designation :

General Manager – Finance

Contact No.:

91-8879092234

Date :

30.09.2015

 

 

LOCATIONS

 

Registered Office / Warehouse:

EL-91, TTC Industrial Area, Electronic Zone, MIDC, Mahape, Navi Mumbai – 400710, Maharashtra, India

Tel. No. :

91-22-6789600/ 41571111 / 27611228

Mobile No. :

91-9810061439 (Mr. Amit Kumar Singh)

91-8879092234 (Mr. V Jaykumar)

Fax No. :

91-22-27681253

E-Mail :

sark@nakshgroup.com 

Jayakumar_v@irtech.in

Website :

www.irtech.in

Area:

1500 Sq mtr

Location :

Owned

Locality:

Industrial

 

 

Branch Office 1:

A-69, Sector-2, Noida – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4530800

Fax No.:

91-120-4320881

E-Mail :

sales_del@irtech.in

accounts_del@irtech.in

 

 

Branch Office 2:

208, Swiss Complex, 33, Race Course Road, Bangalore – 560001, Karnataka, India

Tel. No.:

91-80-22255936/ 22203173

Fax No.:

91-80–41136046

E-Mail :

irtech_blr@vsnl.com

 

 

Branch Office 3:

Eco Space Business Park, Block 4 B, 9th Floor, Unit No ESNT RB0903, New Town, Rajarhat, Kolkata – 700156, West Bengal, India

Tel. No.:

91-33-40631800

Fax No.:

91-33-40361888

E-Mail :

Sandip_hore@irtech.in

 

 

Branch Office 4:

406, Agarwal Chambers, 5-9-1121, King Kothi, Hyderabad – 500001, Telangana, India

Tel. No.:

91-40–66842401/ 02

Fax No.:

91-40–66842401/ 02

E-Mail :

sales_hyd@irtech.in

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Tarun Kumar Debendra Nath Datta

Designation :

Director

Address :

A/22, Shree Rang Society, Thane (West), Mumbai - 400601, Maharashtra, India

Date of Birth/Age :

26.07.1941

Qualification :

BSC BE

Experience :

46 Years

Date of Appointment :

20.07.1977

DIN No.:

01127944

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74220MH1977PTC019758

I R TECHNOLOGY SERVICES PRIVATE LIMITED

Director

20/07/1977

20/07/1977

-

Active

NO

2

U74999MH1982PTC027814

FORTRONICS ENGINEERS PVT LTD

Director

16/07/1982

16/07/1982

-

Active

NO

3

U33125MH2002PTC136303

LECO INSTRUMENTS(INDIA) PRIVATE LIMITED

Managing director

25/06/2002

25/06/2002

-

Active

NO

 

 

Name :

Mr. Sandip Hore

Designation :

Director

Address :

Flat-9L, Tower-III, 85, Prince Anwar Shah Road, Kolkata - 700033, West Bengal, India

Date of Birth/Age :

27.02.1974

Qualification :

M Com

Experience :

13 Years

Date of Appointment :

02.07.2008

DIN No.:

02218489

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74220MH1977PTC019758

I R TECHNOLOGY SERVICES PRIVATE LIMITED

Director

2/7/2008

2/7/2008

-

Active

NO

2

U33125MH2002PTC136303

LECO INSTRUMENTS(INDIA) PRIVATE LIMITED

Director

2/7/2008

2/7/2008

-

Active

NO

3

U74999MH1982PTC027814

FORTRONICS ENGINEERS PVT LTD

Director

25/11/2014

25/11/2014

-

Active

NO

 

 

Name :

Mr. Amit Kumar Singh

Designation :

Director

Address :

6 Eastern Avenue Ground Floor, Maharani Bagh, New Delhi - 110065,India

Date of Birth/Age :

02.07.1975

Qualification :

BE

Experience :

15 Years

Date of Appointment :

25.11.2014

DIN No.:

07006696

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74220MH1977PTC019758

I R TECHNOLOGY SERVICES PRIVATE LIMITED

Director

25/11/2014

25/11/2014

-

Active

NO

2

U33125MH2002PTC136303

LECO INSTRUMENTS(INDIA) PRIVATE LIMITED

Director

25/11/2014

25/11/2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. V Jaykumar

Designation :

General Manager – Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

 

No. of Shares

Tarun Kumar Datta

 

50000

Sarvajit Singh

 

50000

Dr K S Kini

 

50000

Sandip Samir Hore

 

50000

Total

 

200000

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Dealer and Importer of Laboratory Analytical and Medical Instruments. (Confirmed by management)

 

 

Products :
  • Laboratory Analytical
  • Medical Instruments

 

 

Brand Names :

Not Available

 

 

Agencies Held :
  • Leco Corporation, USA
  • Olympus Corporation, Japan
  • Rigaku Corporation, Japan
  • Rigaku America

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Analytical equipment and Spares 

Countries :
  • US
  • Germany
  • Japan
  • European Countries

 

 

Terms :

 

Selling :

60 Days

 

 

Purchasing :

90 Days

 

PRODUCTION STATUS: (AS ON 31.03.2015)

 

Particulars

Installed Capacity

Actual Production

Assembling of chiller units

Not applicable

Rs.40.00 lks a year (approximately)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Olympus Corporation, Japan

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End users

 

  • Space Research Organisation
  • Steel Authority of India Limited
  • JSW Steel Limited

 

Reference :

Reliance Industries Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Approximately 169 [In Office: 67 + In Branch: 102]

 

 

Bankers :

Banker Name

IDBI Bank Limited

Branch Address

Plot C7, G Block. Opposite NSE, BKC, Bandra East, Mumbai - 400051, Maharashtra, India

Person Name (With Designation)

Mrs. Deepa Ganesh (Manager)

Contact Number

91-22-66788613

Name of Account Holder

I R Technology Services Private Limited

Account Number

45435010009238

Account Since (Date/Year of Account Opening)

(Prior) 2000

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

Bank Guarantee: Rs. 150.000 Million

Cash Credit: Rs. 4.000 Million

Account Operation

Satisfactory

Remarks (If any)

Mrs. Deepa Ganesh (Manager) informed that they satisfied with subject company.

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term Loan Against Office Premises

21.407

23.023

Term Loan Against Car

5.604

4.664

SHORT TERM BORROWING

 

 

Term Loan Against Office Premises

1.616

1.431

Term Loan Against Car

2.501

1.958

Total

31.128

31.076

Note:

 

Secured by

bank

Rate of interest

Repayment terms (Months)

Starting date

Office premises at Kolkata

ICICI Bank

 

12.25%

120

10.10.2013

BMW car loan

HDFC Bank

11.25%

60

31.05.2012

Etios Car loan

HDFC Bank

11.00%

36

31.03.2014

Maruti Car loan

HDFC Bank

11.00%

60

13.10.2010

Fortuner Car loan n

HDFC Bank

10.00%

60

13.10.2010

Toyota Car loan

HDFC Bank

10.75%

60

12.08.2013

Captiva Car loan

HDFC Bank

9.70%

60

06.09.2010

Jaguar Car loan

HDFC Bank

10.25%

72

30.06.2014

Skoda Car loan

ICICI Bank

 

10.25%

35

01.03.2013

 

Auditors :

 

Name :

Jhawar Mantri and Associates 

Chartered Accountants

Address :

217, Great Eastern Galleria, Plot No.20, Sector 4, Nerul, Navi Mumbai – 400706, Maharashtra, India

Tel. No. :

91-22-27721467

Fax No. :

91-22-27721557

E-Mail :

jhawarmantrica@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises where principal shareholders have control :
  • Leco Instruments (India) Private Limited

Address: EL-91, TTC Industrial Area, Electronic Zone, MIDC, Mahape, Navi Mumbai – 400710, Maharashtra, India

Line of business: Dealer and Importer of Laboratory Analytical and Medical instruments. 

  • Fortronics Engineering  Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.100/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.100/- each

Rs. 20.000 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

20.000

9.600

9.600

(b) Reserves & Surplus

263.257

228.314

141.958

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

283.257

237.914

151.558

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

37.383

33.859

14.442

(b) Deferred tax liabilities (Net)

1.888

3.154

2.449

(c) Other long term liabilities

0.341

0.341

0.407

(d) long-term provisions

12.548

12.548

12.548

Total Non-current Liabilities (3)

52.160

49.902

29.846

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4.117

3.389

0.000

(b) Trade payables

40.829

47.484

0.000

(c) Other current liabilities

58.978

35.913

107.657

(d) Short-term provisions

0.161

8.670

23.014

Total Current Liabilities (4)

104.085

95.456

130.671

 

 

 

 

TOTAL

439.502

383.272

312.075

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

123.304

114.670

88.181

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

41.690

22.163

0.442

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

164.994

136.833

88.623

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

33.222

23.859

19.248

(c) Trade receivables

118.589

112.065

102.040

(d) Cash and cash equivalents

111.824

90.452

66.304

(e) Short-term loans and advances

10.873

20.037

35.808

(f) Other current assets

0.000

0.026

0.052

Total Current Assets

274.508

246.439

223.452

 

 

 

 

TOTAL

439.502

383.272

312.075

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

472.630

466.803

464.998

 

Other Income

14.887

7.970

4.243

 

TOTAL (A)

487.517

474.773

469.241

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

210.825

126.957

156.794

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(11.634)

(4.611)

0.894

 

Employees benefits expense

118.700

99.709

94.236

 

Other expenses

95.886

107.039

119.494

 

Extraordinary Item

(20.645)

(4.503)

(21.987)

 

TOTAL (B)

393.132

324.591

349.431

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

94.385

150.182

119.810

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

7.517

6.160

4.528

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

86.868

144.022

115.282

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

11.154

11.734

11.209

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

75.714

132.288

104.073

 

 

 

 

 

Less

TAX (H)

23.497

45.932

38.594

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

52.217

86.356

65.479

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

22.414

11.058

NA 

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.000

75.000

NA 

 

Interim dividend paid

4.800

0.000

NA 

 

Dividend distribution tax 

0.977

0.000

NA 

 

Depreciation charged against retained earnings

1.097

0.000

NA 

 

Balance Carried to the B/S

67.757

22.414

NA 

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Commission from foreign principal

145.506

251.410

NA

 

TOTAL EARNINGS

145.506

251.410

NA

 

 

 

 

 

 

IMPORTS

 

 

 

 

Spares parts and Plant Machinery

NA

NA

157.084

 

TOTAL IMPORTS

NA

NA

157.084

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

261.09

431.78

682.07

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

11.05

18.50

14.08

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

19.97

32.17

25.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

17.23

34.52

33.35

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.56

0.69

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.15

0.16

0.10

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.64

2.58

1.71

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

9.600

9.600

20.000

Reserves & Surplus

141.958

228.314

263.257

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

151.558

237.914

283.257

 

 

 

 

long-term borrowings

14.442

33.859

37.383

Short term borrowings

0.000

3.389

4.117

Total borrowings

14.442

37.248

41.500

Debt/Equity ratio

0.095

0.157

0.147

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

464.998

466.803

472.630

 

 

0.388

1.248

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

464.998

466.803

472.630

Profit

65.479

86.356

52.217

 

14.08%

18.50%

11.05%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

PERFORMANCE REVIEW / STATE OF COMPANY’S AFFAIR

 

During the year there has been drastic reduction in the income as compared to previous year since the company is mainly dependent on government/semi government/Institution/Defence and space organization where the orders are kept pending for release due to paucity of funds. Moreover economic slowdown and the implementation of service tax of foreign agency commission as per government notification dated July 14 which came into effect from 01.10.2014, their income for the year ended 31.03.2015 has dropped drastically as compared to previous year. The directors have also taken steps to improve the performance and to reduce the cost.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

From directors

6.404

2.204

From associates company

3.968

3.968

Total

10.372

6.172

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10505562

12/08/2015 *

154,000,000.00

IDBI BANK LIMITED

PLOT C7, G BLOCK. OPPOSITE NSE, BKC, BANDRA EAST,
MUMBAI, MAHARASHTRA - 400051, INDIA

C63428270

2

10457391

07/10/2013

25,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ
ARAT - 390015, INDIA

B88397518

* Date of charge modification

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

31.03.2014

 

 

 

Contingent liabilities Guarantees issued by bank

103.012

91.997

Claims against the company not acknowledged as debts in respect of:

Service tax matters under dispute

12.434

12.434

 

 

FIXED ASSETS

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.63.37

UK Pound

1

Rs.98.91

Euro

1

Rs.72.85

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

47

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.